Chinese-invested Laotian MOP producer Lao Kaiyuan raised MOP output in 2022 from a year earlier, to meet higher demand especially from Thailand, Vietnam and New Zealand.
Lao Kaiyuan produced 505,600t of MOP in 2022, up by 12pc from 2021, according to the latest annual report by Qingdao East Steel Tower, the parent company of Lao Kaiyuan.
The company's MOP sales volume rose to 473,900t in 2022, up by 4.6pc on the year. Its total MOP revenue increased to 1.84bn yuan ($266.2mn), up by 78pc from 2021, thanks to higher MOP prices and sales volumes.
Lao Kaiyuan launched a 0.5mn t/yr MOP capacity expansion project in 2022, the first phase of their 1.5mn t/yr project, to meet higher demand especially from southeast Asia The first phase is expected to begin production in the first half of 2023. Its total granular MOP production capacity reached 200,000 t/yr, with granular MOP plants expected to resume production in October, a company source said
Lao Kaiyuan is optimistic about granular demand from Thailand, Vietnam and New Zealand, and its powder MOP has secured market share in Indonesia and China. The company's first delivery to China was in 2014.
China's MOP imports from Laos surged to 607,000t in 2022, up from 417,000t in 2021 and just 113,000t in 2017, according to GTT data. Imports because of higher Chinese investments in MOP production capacity in Laos.
